Jack in the Box (JACK): Refranchising To Create Next Step-Up - Wedbush
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Wedbush analyst, Nick Setyan, reiterated his Outperform rating on shares of Jack In The Box (NASDAQ: JACK) as checks indicate solid FQ4 comps. The analyst views FY17 EPS expectations as conservative and believes improved visibility into the timing of refranchising could clarify upside potential as the year progresses.
The analyst believes FY17 consensus EPS is poised for upward revisions even with conservative guidance. The contribution from corporate G&A cuts are well understood but the contribution from any additional cost opportunities and the magnitude/timing of buybacks are dependent on the timing of store sales to franchisees.
No change to the price target of $115.
Shares of Jack In The Box closed at $93.81 yesterday.
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